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The Importance of Human-Based Computation

The Importance of Human-Based Computation

By Anila Siraj, EVP of Research and Applied Data Sciences

We've talked at length about artificial intelligence (AI) in the fuel and convenience retail industry, and how incorporating AI into your fuel pricing strategy can boost efficiency, reduce risks and positively impact your bottom line. But notwithstanding the many benefits, AI shouldn't be the sole consideration when adjusting your pricing tactics and even more so, your pricing strategy. A balanced and effective strategy will also make room for the right balance of emotion and experience, the human side of the equation.

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Dynamic Predictive Intelligence: Essential to Fuel Retail Success

Dynamic Predictive Intelligence: Essential to Fuel Retail Success

By Anila Siraj, EVP of Research and Applied Data Sciences

Predictive intelligence is not a new concept. Marketers across various industries have always observed past consumer behavior, used that data to predict future behavior and adjusted their strategy accordingly, even when the frequency of these changes was minimal. In this electronic age, where consumer data can be collected in real-time on a larger scale, it's becoming easier than ever to build accurate, highly-complex predictive models that react dynamically to consumer behavior changes. In the fuel and convenience retail market especially, this ability is key to building a fuel and convenience retail center of excellence.

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Optimizing Your Capital Spend When Making Real-Estate Decisions

Optimizing Your Capital Spend When Making Real-Estate Decisions

By Anila Siraj, EVP of Research and Applied Data Sciences

When making real-estate decisions that will allow you to meet your strategic and financial goals, you need to maintain a big-picture view of the market, your retail network's place within that market and the performance of individual sites in your network. With millions of dollars on the line, how do you ensure you make decisions that will maximize your return on investment, across each site and the network as a whole?

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The Power of Fuel Price Data: Handling

The Power of Fuel Price Data: Handling "Missingness"

By Anila Siraj, EVP of Research and Applied Data Sciences

We've said it time and time again, in order to thrive in today's competitive fuel retail market, you have to take a data-driven approach. If you're not using fuel price data to make decisions about your network, then you might as well be pushing buttons wearing a blindfold. By conducting a comprehensive competitive analysis, fuel retailers will understand:

  • Who their true competitors are
  • Key differentiators between their sites and their competitors' sites
  • The volume potential of each site
  • Daily, weekly and monthly demand cycles at each site
  • Market volatility
  • ... and more!

One of the most important drivers for sensitivity is relative price. It's true that actual price has some effect on sensitivity; when gas is cheaper, people will inevitably drive more. But at a micro-level, consumers are going to make decisions based on the relative prices of different sites. Data collection of competitor prices becomes critical in any competitive market where prices are rapidly changing and the relative position vis-a-vis your competitors is a strong driving force behind your share of demand.

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Profit, Volume, Margin, Growth: 7 Elements of a Successful Strategy

Profit, Volume, Margin, Growth: 7 Elements of a Successful Strategy

By Kalibrate Team

How do you define a successful business strategy? More profits? A bigger network? More margin? More volume? Something else? Whatever that definition, it is the starting point that aims your business strategy into the reality of volatile markets, increasing competition and evolving consumer spending patterns.

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